Monday, May 4, 2015 1:00 AM
Salt Lake County, UT—Salt Lake County Mayor Ben McAdams is praising his fiscal management team after receiving confirmation that all three national ratings firms—Moody’s Investor’s Service, Fitch and Standard & Poors—assigned the highest-possible rating to the county’s bonds. Salt Lake County is one of only about 35 counties nationally –among 3,144—that received a triple A rating from all three agencies.
“The report sends a clear signal about our overall financial health, because the ratings are assigned based on expectations that our economy, tax base and finances will remain strong,” said McAdams.
According to Salt Lake County Chief Financial Officer Darrin Casper, the firms highlighted the county’s very low unemployment levels, well-managed finances and a modest debt burden. Casper said that with such an excellent credit score, Salt Lake County will pay less interest and save taxpayer dollars when it enters the market with an upcoming debt offering.
“The credit for this belongs to the dedicated, hard-working employees and managers at Salt Lake County. They are committed to providing the best possible service to county residents at the lowest possible cost. This is evident in our balance sheet and our national reputation. Once again, Salt Lake County is demonstrating what it means to be a thriving metropolitan area that focuses on efficient and responsive government,” said McAdams.